Barrett Business Services, Inc. (NASDAQ:BBSI) Short Interest Up 6.6% in January

Barrett Business Services, Inc. (NASDAQ:BBSI) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 643,400 shares, an increase of 6.6% from the December 31st total of 603,500 shares. Based on an average daily volume of 119,000 shares, the days-to-cover ratio is presently 5.4 days.

Analyst Ratings Changes

A number of brokerages have recently commented on BBSI. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Roth Mkm lifted their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a report on Wednesday, December 11th.

Barrett Business Services Trading Down 1.5 %

Shares of BBSI stock traded down $0.63 during mid-day trading on Monday, reaching $42.70. The stock had a trading volume of 33,255 shares, compared to its average volume of 77,381. The firm has a market capitalization of $1.11 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41. The stock’s 50-day moving average price is $43.18 and its two-hundred day moving average price is $39.14. Barrett Business Services has a 52-week low of $27.06 and a 52-week high of $44.97.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Joseph Stephen Clabby acquired 1,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of $43.01 per share, with a total value of $70,321.35. Following the completion of the purchase, the director now owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This represents a 16.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas J. Carley sold 4,584 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total value of $189,044.16. Following the completion of the transaction, the director now owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Several institutional investors and hedge funds have recently bought and sold shares of BBSI. Summit Global Investments raised its position in shares of Barrett Business Services by 1.5% in the 3rd quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock worth $917,000 after acquiring an additional 352 shares in the last quarter. Perkins Coie Trust Co lifted its position in Barrett Business Services by 11.1% during the third quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider’s stock valued at $150,000 after buying an additional 400 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Barrett Business Services by 5.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,310 shares of the business services provider’s stock valued at $462,000 after buying an additional 679 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Barrett Business Services by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider’s stock worth $1,590,000 after acquiring an additional 704 shares in the last quarter. Finally, Lakewood Asset Management LLC lifted its holdings in shares of Barrett Business Services by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 10,562 shares of the business services provider’s stock valued at $396,000 after purchasing an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.